15. Prepare trading and profit and loss account of M/s Sports Equipments for the year ended March 31, 2017 and balance sheet as on that date: Account Title DebitAmount (₹) CreditAmount (₹) Opening stock 50,000 Purchases and sales 3,50,000 4,21,000 Sales returns 5,000 Capital 3,00,000 Commission 4,000 Creditors 1,00,000 Bank overdraft 28,000 Cash in hand … Read more
14. From the following balances of M/s Nilu Sarees as on March 31, 2017. Prepare trading and profit and loss account and balance sheet as on date. Account Title Debit Amount (₹) Account Title CreditAmount (₹) Opening stock 10,000 Sales 2,28,000 Purchases 78,000 Capital 70,000 Carriage inwards 2,500 Interest 7,000 Salaries 30,000 Commission 8,000 Commission … Read more
13. Prepare trading and profit and loss account from the following particulars of M/s Neema Traders as on March 31, 2017. Account Title Debit Amount (₹) Account Title CreditAmount (₹) Buildings 23,000 Sales 1,80,000 Plant 16,930 Loan 8,000 Carriage inwards 1,000 Bills payable 2,520 Wages 3,300 Bank overdraft 4,720 Purchases 1,64,000 Creditors 8,000 Sales return … Read more
12. Prepare trading and profit and loss account and balance sheet of M/s Royal Traders from the following balances as on March 31, 2017. Account Title Debit Amount (₹) Account Title CreditAmount (₹) Stock 20,000 Sales 2,45,000 Cash 5,000 Creditors 10,000 Bank 10,000 Bills payable 4,000 Carriage on purchases 1,500 Capital 2,00,000 Purchases 1,90,000 Drawings … Read more
11. From the following trial balance of Mr. A. Lal, prepare trading, profit and loss account and balance sheet as on March 31, 2017. Account Title DebitAmount (₹) CreditAmount (₹) Stock as on April 01, 2016 16,000 Purchases and Sales 67,600 1,12,000 Returns inwards and outwards 4,600 3,200 Carriage inwards 1,400 General expenses 2,400 Bad … Read more
10. Prepare trading and profit and loss account and balance sheet from the following particulars as on March 31, 2017. Account Title DebitAmount (₹) CreditAmount (₹) Purchases and Sales 3,52,000 5,60,000 Return inwards and Return outwards 9,600 12,000 Carriage inwards 7,000 Carriage outwards 3,360 Fuel and power 24,800 Opening stock 57,600 Bad debts 9,950 Debtors … Read more
9. The following is the trial balance of Mr. Deepak as on March 31, 2017. You are required to prepare trading account, profit and loss account and a balance sheet as on date: Account Title Debit Amount (₹) Account Title CreditAmount (₹) Drawings 36,000 Capital 2,50,000 Insurance 3,000 Bills payable 3,600 General expenses 29,000 Creditors … Read more
8. The following is the trial balance of Manju Chawla on March 31, 2017. You are required to prepare trading and profit and loss account and a balance sheet as on date: Account Title DebitAmount (₹) CreditAmount (₹) Opening stock 10,000 Purchases and sales 40,000 80,000 Returns 200 600 Productive wages 6,000 Dock and Clearing … Read more
7. The following trial balance is extracted from the books of M/s Ram on March 31, 2017. You are required to prepare trading and profit and loss account and the balance sheet as on date: Account Title Debit Amount (₹) Account Title CreditAmount (₹) Debtors 12,000 Apprenticeship premium 5,000 Purchases 50,000 Loan 10,000 Coal, gas … Read more
6. Prepare trading and profit and loss account and balance sheet as on March 31, 2017: Account Title Debit Amount (₹) Account Title CreditAmount (₹) Machinery 27,000 Capital 60,000 Sundry debtors 21,600 Bills payable 2,800 Drawings 2,700 Sundry creditors 1,400 Purchases 58,500 Sales 73,500 Wages 15,000 Sundry expenses 600 Rent & taxes 1,350 Carriage inwards … Read more